10.16.14
While research shows that shoppers are waiting for Thanksgiving weekend promotional sales to begin their ‘serious work,’ The NPD Group reports that many will be purchasing from the comforts of their own home rather than venturing to the local mall at 2am. The researcher says that online has become the No 1 sales channel of planned holiday shopping this year, thus delaying advance purchases.
As of the time this study was fielded, 16% of consumers had already started their holiday shopping, versus 15% last year, with an additional 19% stating they plan to start shopping before Thanksgiving, compared to 22% last year. Eighteen percent claim they will start during Thanksgiving weekend, a sharp contrast to last year’s 13%. Among the consumers reporting that they will begin their shopping during Thanksgiving weekend, 12% plan to shop on Black Friday, while the remaining 6% plan to do their shopping on Saturday and/or Sunday.
“Consumers are anticipating the Thanksgiving weekend door-buster deals and other savings incentives, and as a result of their proven interest in special sales and deals, retailers last year began to open on Thanksgiving Day, with more stores jumping on this new tradition this year,” said Marshal Cohen, chief industry analyst, The NPD Group. “However, it’s important to keep in mind that this doesn’t mean more sales at the register. After all, how many more family members and friends do consumers need to shop for just because the stores decided to open earlier? How much more money do they have in their holiday budget because the stores started promoting earlier? This year we’ll see more shopping happening in the Thanksgiving zone, a deeper lull following, and finally a mad dash at the end for the last-minute shoppers.”
Online Retail
Nearly 60% of consumers polled said they plan to do at least some of their holiday shopping online this year, making online the leading channel for holiday shopping. Women are more likely than men to shop online (62% versus 57%), as are those with children in the household.
Online is leading the way for consumers through all phases of their purchases, from pre-shopping homework to the checkout counter. Two-thirds of those who do pre-purchase research claim that they will utilize online research to learn more about products before making a holiday purchase, topping consumer reviews and television ads, among others. In addition to special sale prices and overall value, consumers list convenience and free shipping as top purchase drivers, tying into the online appeal.
“Online has truly become the place for consumers to start and finish their holiday shopping. Last year we saw a mad dash at the end, with many consumers disappointed because gifts were delayed due to so much last minute online shopping. Hopefully stores and shippers learned from that mistake, and will be more prepared for the even bigger crush to come closer to the holidays this year,” said Cohen. “Until retailers drive the consumers back into the stores, online will continue to grow at a faster pace than traditional store shopping. The convenience and bargains offered online are too plentiful for the consumer to pass up.”
Top Purchases
The majority of consumers intend to spend the same as or more than last year, and fewer reported that they plan to spend less (20%, compared to 22% in 2013).
Fragrance was the only Beauty category to make the Top 10 list of categories mentioned by shoppers. It landed in the No. 5 slot, with 17%. Clothing led with 44%, followed by Toys, Books, Food/Beverages, Music, Liquor/Wine, Footwear, Movies/DVDs and Video Games.
The survey was fielded to a U.S. representative sample and completed by 3,537 individuals aged 18 and older.
As of the time this study was fielded, 16% of consumers had already started their holiday shopping, versus 15% last year, with an additional 19% stating they plan to start shopping before Thanksgiving, compared to 22% last year. Eighteen percent claim they will start during Thanksgiving weekend, a sharp contrast to last year’s 13%. Among the consumers reporting that they will begin their shopping during Thanksgiving weekend, 12% plan to shop on Black Friday, while the remaining 6% plan to do their shopping on Saturday and/or Sunday.
“Consumers are anticipating the Thanksgiving weekend door-buster deals and other savings incentives, and as a result of their proven interest in special sales and deals, retailers last year began to open on Thanksgiving Day, with more stores jumping on this new tradition this year,” said Marshal Cohen, chief industry analyst, The NPD Group. “However, it’s important to keep in mind that this doesn’t mean more sales at the register. After all, how many more family members and friends do consumers need to shop for just because the stores decided to open earlier? How much more money do they have in their holiday budget because the stores started promoting earlier? This year we’ll see more shopping happening in the Thanksgiving zone, a deeper lull following, and finally a mad dash at the end for the last-minute shoppers.”
Online Retail
Nearly 60% of consumers polled said they plan to do at least some of their holiday shopping online this year, making online the leading channel for holiday shopping. Women are more likely than men to shop online (62% versus 57%), as are those with children in the household.
Online is leading the way for consumers through all phases of their purchases, from pre-shopping homework to the checkout counter. Two-thirds of those who do pre-purchase research claim that they will utilize online research to learn more about products before making a holiday purchase, topping consumer reviews and television ads, among others. In addition to special sale prices and overall value, consumers list convenience and free shipping as top purchase drivers, tying into the online appeal.
“Online has truly become the place for consumers to start and finish their holiday shopping. Last year we saw a mad dash at the end, with many consumers disappointed because gifts were delayed due to so much last minute online shopping. Hopefully stores and shippers learned from that mistake, and will be more prepared for the even bigger crush to come closer to the holidays this year,” said Cohen. “Until retailers drive the consumers back into the stores, online will continue to grow at a faster pace than traditional store shopping. The convenience and bargains offered online are too plentiful for the consumer to pass up.”
Top Purchases
The majority of consumers intend to spend the same as or more than last year, and fewer reported that they plan to spend less (20%, compared to 22% in 2013).
Fragrance was the only Beauty category to make the Top 10 list of categories mentioned by shoppers. It landed in the No. 5 slot, with 17%. Clothing led with 44%, followed by Toys, Books, Food/Beverages, Music, Liquor/Wine, Footwear, Movies/DVDs and Video Games.
The survey was fielded to a U.S. representative sample and completed by 3,537 individuals aged 18 and older.
